Oil production of Bashneft in the first half of 2016 increased by 10.9% YoY, to 10.58 million tons, the company said in a statement.
“During the six months of 2016, Bashneft produced 10.58 million tons of oil, which is 10.9% more than during the same period in 2015. Bashneft-Polyus boosted production by 76.3% YoY (to 1.082 million tons), while Burneftegaz increased production by 66.3% (to 1.14 million tons). In the first half of 2016, production at brownfields gained 1.4% YoY”, the press release said.
“In the second quarter of 2016, the company produced 5.294 million tons of oil, up by 9.6% YoY. Average daily production reached 58,200 tons per day. Production growth was driven mainly by Bashneft-Polyus and Burneftegaz, which accounted for 21.6% of total oil production as against 14.6% in the second quarter of 2015”, accoridng to the press release.
“Year-on-year production growth was also supported by a 0.6% increase in oil production at brownfields, mainly due to commissioning of new wells and highly efficient geological and engineering operations in Bashkortostan”, the press release said.
Bashneft operates in more than 20 Russian regions and overseas. The Russian Property Management Agency holds 50% + 1 share in the company. 25% plus one share in Bashneft belong to the government of the republic of Bashkiria (Bashkortostan). (TASS/Business World Magazine)
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